The global community is increasingly grappling with the detrimental effects of illicit trade, particularly smuggling and counterfeiting, which undermine economies worldwide. These illicit practices have pervasive consequences, impacting trade dynamics, foreign investments, employment rates, innovation, criminal activity, environmental sustainability, and, most critically, the health and safety of consumers. Their prevalence continues to expand in scale and severity, with smuggling and counterfeiting activities now constituting a formidable $2 trillion shadow economy, equivalent to over 3% of the global GDP annually, surpassing the economic output of nations like Brazil, Italy, and Canada. The aggregated global trade in contraband could rival the economies of nations such as Mexico and Indonesia, illustrating the pervasive reach of illicit networks across industries, markets, and jurisdictions. This illicit ecosystem persists and thrives due to systemic governance loopholes and advancements in technology that facilitate cross-border smuggling and the production of high-quality counterfeit goods. Criminal syndicates operating within this framework consistently outpace enforcement efforts, tailoring sophisticated fakes to meet market demand.

Examining this issue from India's perspective, where Prime Minister Shri Narendra Modi has set ambitious goals for national development, including achieving the status of the world's third-largest economy within five to seven years and becoming a developed nation by 2047, it is evident that the rise in India's economic stature will likely attract increased attention from illicit actors. As India's economic prominence grows, so too does its vulnerability to illicit activities, which could impede progress and erode economic gains. Addressing this multifaceted challenge necessitates coordinated global action to dismantle illicit infrastructures and fortify economic resilience against infiltration. Stakeholders worldwide must collaborate to implement comprehensive measures aimed at curbing consumption, thereby reclaiming control over global supply and demand dynamics and fostering secure, sustainable, and resilient economies for future generations.

Over the years, FICCI CASCADE has actively spearheaded campaigns aimed at raising awareness among the general public about the detrimental effects of smuggling and counterfeiting, as part of its broader mission to instigate societal change. A pivotal component of this initiative is FICCI CASCADE's annual flagship international conference named MASCRADE - the Movement Against Smuggled and Counterfeit Trade. With the above background CASCADE is organizing its 10th edition of MASCRADE on September 25th - 26th, 2024, at Hotel Lalit, New Delhi. The theme of this year’s conference is "Building Resilient Economies and Implementing Robust Measures from a Global Initiative against Smuggling and Counterfeiting”. The conference underscores the imperative need to address the economic dimensions of combating illicit trade on a global scale. The conference will delve into the economic aspects to battle against smuggling and counterfeiting, emphasizing the need for collaborative efforts on a global level. Through insightful discussions and strategic dialogue, the conference aims to foster a deeper understanding of the economic impacts of illicit trade and explore effective measures to bolster economic resilience against such threats. In essence, MASCRADE serves as a platform for stakeholders to come together, share insights, and chart a course towards building more robust economies through concerted global initiatives against smuggling and counterfeiting.